James and Ian discuss ‘dry powder’ cash sitting on the sidelines in private equity, the importance of fees in selecting funds, new investments, and the Trust’s upcoming continuation vote.

 

 

 

Investment objective

The Company exploits global opportunities to provide long-term growth to shareholders via a diversified, international, multi-strategy portfolio which offers access also to specialist funds including hedge and private equity. The Company aims to outperform the FTSE World Index on a total return basis.

 
Overview
  • Rare access to a well-diversified portfolio of specialist and alternative asset funds
  • Experienced co-managers with complimentary skill-sets and strong track records.

The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.

 

Glossary:
– Dry powder cash – reserve cash waiting to be invested
– Private equity – shares of privately held businesses
– Value investing – seeking out firms the fund manager fundamentally thinks are undervalued
– Commoditised investment vehicle – those that are undifferentiated from one another, such as passive tracker funds
– Passive investment management – where no active investment decisions are taken
– Top down – the wider economic environment as supposed to the individual stocks
– Macro-economic – the wider economic environment
– Bottom up – economics regarding the individual firms
– ‘toppy’ – when valuations in markets appear high relative to history
– Illiquid – when an asset is difficult to buy and sell
– NAV – net asset value, which is the total value of assets divided by the number of shares, net of fees
– Total return – investment returns including both income and capital growth

Past performance is not a guide to future performance. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested.

The information in this article does not qualify as an investment recommendation





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